MoonLake Immunotherapeutics (NASDAQ:MLTX) Given Buy Rating at Needham & Company LLC

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $66.00 price objective on the stock. Needham & Company LLC's price target would indicate a potential upside of 75.44% from the company's current price.

MLTX has been the subject of several other research reports. HC Wainwright reissued a "buy" rating and set a $100.00 price objective on shares of MoonLake Immunotherapeutics in a research note on Thursday, February 27th. Royal Bank of Canada started coverage on MoonLake Immunotherapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $67.00 price target for the company. Finally, The Goldman Sachs Group dropped their price target on MoonLake Immunotherapeutics from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, MoonLake Immunotherapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $81.67.

MoonLake Immunotherapeutics Stock Down 0.1%

NASDAQ:MLTX traded down $0.04 during trading hours on Tuesday, hitting $37.62. 351,510 shares of the company's stock traded hands, compared to its average volume of 356,542. The firm has a market cap of $2.41 billion, a P/E ratio of -29.16 and a beta of 1.31. MoonLake Immunotherapeutics has a 52 week low of $31.42 and a 52 week high of $58.26. The business's fifty day simple moving average is $38.40 and its two-hundred day simple moving average is $44.73.

MoonLake Immunotherapeutics (NASDAQ:MLTX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.13. During the same period in the prior year, the business posted ($0.22) EPS. On average, analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Institutional Investors Weigh In On MoonLake Immunotherapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of MoonLake Immunotherapeutics by 1,269.2% in the third quarter. Barclays PLC now owns 5,641 shares of the company's stock worth $283,000 after buying an additional 5,229 shares during the period. Congress Asset Management Co. increased its holdings in shares of MoonLake Immunotherapeutics by 9.5% in the fourth quarter. Congress Asset Management Co. now owns 72,993 shares of the company's stock worth $3,953,000 after buying an additional 6,352 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of MoonLake Immunotherapeutics in the fourth quarter worth about $244,000. Rice Hall James & Associates LLC increased its holdings in shares of MoonLake Immunotherapeutics by 47.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 111,133 shares of the company's stock worth $6,018,000 after buying an additional 35,664 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of MoonLake Immunotherapeutics by 18.4% in the fourth quarter. Teacher Retirement System of Texas now owns 6,532 shares of the company's stock worth $354,000 after buying an additional 1,013 shares during the period. Institutional investors own 93.85% of the company's stock.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.